Question

Summit Credit Union, located in Madison and Milwaukee, Wisconsin, is a small company with 366 employees. A merger in 2015 doubled the size of the company and made it necessary to build a new corporate culture. Summit’s mission is to improve credit members’ financial lives to help them achieve their dreams. For example, in 2013 Summit members saved over $13 million based on higher savings rates, lower loan rates, and lowerfees compared to for-profit banking institutions in Wisconsin. Summit has invested in creating a world-class learning function, which includes a team of seven professionals who are able to design and deliver instructor-led training as well as e-learning. Summit has shifted away from generic off-the-shelf training to develop online and face-to-face programs customized to employee needs and the company’s goals and initiatives. For example, the learning function is expected to play a key role in dealing with business issues such as efficiency, loan growth, and increased sales. All learning staff members are expected to contribute to new company initiatives, such as new products and services, systems, or regulations. Summit has recently identified a problem with its new lenders. They were starting to perform their jobs without the necessary skills, information, and knowledge that they needed. One potential reason for this is how the lending training curriculum is organized. New lenders attend a course on different types of loans and the lending system, start their jobs, and then later return for a course on lending guidelines, underwriting, and sales skills. Analysis: Analyze your training objectives using SMART training goals. Provide your analysis of your objectives, your brainstorming of the connections to future pieces of training (where applicable), and create your training goals

Answer 1

Training is an integral part of an organization. Training helps in improving and developing the skills of the employees and also it helps them in their overall development. Without proper training of the employees any organization will not be able to survive in the long run.  The specific aim of the training is to help the lenders who do not have proper knowledge of lending techniques which is very important for them as well as for the organization. We want to develop a trained niche of lenders who can work easily and effectively to reach the goal of the company. This will help in generating increased loan growth of about 50% (measurable) more than what is still prevalent in the organization. After the completion of training, the lenders will be more informed about the skills for increasing the loan growth. We are focussing only on an increase of 50% as above this will not an achievable target and the employees will be in a dilemma as they could not achieve the expected target. As the need for training is for increasing the efficiency of the employees and this is the relevance of the training for increasing the knowledge of the products and the skills which are required by them to increase the growth. The training materials will also be monitored so that they can provide what is required and delivered after the training. The training will only be effective when it is time-bound. So, the training shall be completed within 4 days so that less time is required by the lender to understand and gain the knowledge of the products and the queries can be resolved so that they can start their work after the completion of the training. This training will help in achieving the targets of the business and will help in increasing the revenue of the organization. Providing training is a costly matter of affair and it must realize its goals for expanding the business through increasing the profits.